Five steps to cut your costs in the New Year: How you could save £100s

Christmas is over and you're already worried about your finances in the
New Year?

Well, don't fret because This is Money has five ways to help
cut your bills in 2013.

All worn out: The stress and bustle of Christmas is over so what about your finances in 2013 - we have the answers.

Switch bills

If you’ve never switched energy companies before, then you could save up to £364 by moving to a different supplier, according to comparison website Energy Helpline. You can use the This is Money fuel finder to compare prices.

As well as switching energy suppliers you might also consider finding a cheaper home phone, broadband an TV deal – do you need your current package or is there a way to swap and save money?

Remember, will have to be outside of the minimum term of your contract before you can leave without paying a fee.

You could also save money by switching all three of the services to one supplier. Avoid getting sucked in by introductory offers and always work out the cost of the total package to find the best deal. You can compare prices using the This is Money comparison tool.

Cut your weekday expenses

Take a look at how much you spend on a daily basis and see if there is any way you can cut back. Can you change the way you get to work? Or should you invest in a monthly or even annual travel card?

Try and plan ahead to bring in food from home. Just cutting back on your weekly cup of coffee could help you save more than £760 a year.

Don’t bother with the gym membership

January may be the time to renew your exercise regime but don’t bother signing up for a costly gym membership. On average people waste £303 a year in forgotten direct debits that continue to deduct cash months after people have ditched the treadmill, according to Which?. Why not hit the streets instead? Or maybe find out about free exercise in your area, such as local running clubs.

Quit smoking

Not only is it good for your health it will also help you save money. Giving up cigarettes could save you £2,555 in 2013, according to InvestorBee.com.

Prepare for next Christmas now

I know, I know you’re still eating this year’s turkey leftovers but stick with me on this one. Buy up wrapping paper, cards, decorations and even presents in the January sales – then when next year comes around you’ll be sorted. But, avoid over-spending and buying things that you don’t need or won’t use.